The English High Court’s decision in Stephen Wilden v Person Unknown and Huobi Global S.A. [h/t Freshfields] is an important step forward for victims of cryptocurrency fraud. The ruling confirms that at least some Western courts are willing to issue freezing injunctions, compel exchanges to disclose information, and recognize sophisticated blockchain tracing techniques, even when stolen funds have been pooled and mixed in an attempt to conceal their origin.

It’s a significant victory for crypto asset recovery.

At the same time, the case raises an uncomfortable question.